National Security Group At a Glance: Rates, Products and Reviews

Today’s Best National Security Group Annuity Rates

Term	Product	AM Best Rating	Rate
3 Years	MYGA	B++	5.20 %
5 Years	MYGA	B++	5.30 %
6 Years	MYGA	B++	5.10 %

Compare National Security Group Annuity Rates

Additional Products Offered by National Security Group

National Security Group offers multi-year guaranteed annuities or MYGAs. MYGAs are a type of fixed annuity where the premium invested grows at a guaranteed interest rate for a specified number of years.

National Security Group’s MYGA has a minimum premium of $25,000 and no upfront fees. The initial guarantee period ranges from three to seven years. The annuity also comes with a death benefit of the full contract value.

Annuity owners can withdraw up to 10% of the contract’s value each year without penalty. This penalty-free withdrawal option is available after the first contract anniversary. 

National Security Group’s MYGA is available in seven states: Alabama, Florida, Georgia, Mississippi, South Carolina, Tennessee and Texas.

When looking for an annuity company to work with, regardless of the age, customer satisfaction is very important. Often, consumers overlook newer companies because of their lack of experience in the market, but newer companies often offer better rates and work harder to earn and retain your business compared to older and more established companies. When I show my clients the different rates and offers from various companies, they more often than not research that company’s customer service record. Consider National Security Group as a viable option for annuities.

John Stevenson, CFFOwner and Advisor at Stevenson Retirement Solutions

John Stevenson, a Certified Financial Fiduciary®️, specializes in securing retirements with tax-free accounts. With a focus on guaranteed retirement, he’s ensured none of his clients suffer from market fluctuations. As a renowned educator and podcast host, John empowers thousands weekly, sharing his expertise in minimizing taxes and protecting against financial downturns.

About National Security Group

National Security Group was founded in 1947 in Elba, Alabama. The insurance group is made up of National Security Fire & Casualty Company, which sells property, casualty and accident insurance; and National Security Insurance Company, which provides annuities and life insurance.

National Security began offering annuities in 2023, and sold over $71 million that year, comprising 0.02% of the U.S. annuity market, according to the National Association of Insurance Commissioners (NAIC).

National Security Insurance Company is licensed to sell insurance products in 22 states and the District of Columbia. However, as previously mentioned, the company’s annuities are only available in seven states.

Credit Ratings

If you’re thinking of buying an annuity, it’s important to know about credit ratings for annuity providers. These ratings represent the financial strength and stability of the provider, and therefore, how likely the provider is to be able to fulfill its obligations in an annuity contract.

National Security Group Credit Ratings

Rating Company	Credit Rating
AM Best	B++ (Good)
Fitch	Not Rated
S&P	Not Rated

What Customers Are Saying About National Security Group

National Security Group has not had any consumer complaints in its annuity department in the last three years, according to the NAIC. However, it seems that the company just started selling annuities last year, so it remains to be seen what its track record is for these products.

The NAIC tracks consumer complaints each state’s insurance commission receives each year. These are used to compile a company’s NAIC Complaint IndexNAIC Complaint IndexDetermined by dividing the company’s share of complaints in the U.S. market by the company’s share of premiums in the U.S. market. The National Complaint Index is always 1.00, so a score of 2.00, for example, is twice as high as expected in the market..

NAIC Complaint Index for National Security Group

All Policy Types	0.42
Individual Annuities Only	0.00

These numbers indicate that National Security Group has relatively few complaints for its annuity customers and for the insurance industry as a whole.

National Security Group did not appear in either the 2022 or 2023 editions of the J.D. Power Customer Satisfaction Index Ranking, which measures the overall customer satisfaction of annuity providers.

National Security Group Pros & Cons

National Security Group has advantages and disadvantages just like any other annuity provider. Before purchasing an annuity from any company, it’s important to consider the pros and cons.

Pros

• High customer satisfaction rating: National Security has not had any complaints from annuity customers reported to the NAIC.
• Variety of guarantee periods: National Security’s MYGAs have guarantee period options ranging from three to seven years.

Cons

• Annuities only available in seven states: Though it’s licensed to sell insurance in 22 states, National Security only sells MYGAs in Alabama, Florida, Georgia, Mississippi, South Carolina, Tennessee and Texas.
• Only offers one type of annuity: National Security only offers a multi-year guaranteed annuity.
• New to annuity business: National Security only reported annuity sales to the NAIC in the last year, so they seem to be very new to selling annuities.

Provider Rating Methodology

Annuity.org created a fact-based methodology to analyze the strength, security and reach of different annuity providers. We assessed companies based on their availability, the number of direct premiums sold, their AM Best Financial Strength Rating and their NAIC Complaint Index score.

Providers received a rating on a five-star scale for each of these categories, with the complaint index and financial strength ratings weighed as the heaviest variables. Then, using a weighted average, each company was assigned an overall star rating.

Top-Ranked Annuity Providers

Provider	Annuity.org Star Rating
Mass Mutual
New York Life
Pacific Life
Midland National
North American
Western & Southern

Our Rating Panel

The Annuity.org editorial team spoke with several different annuity experts to learn more about what is important to customers when searching for a provider and what factors make a company reliable. While Annuity.org designed the methodology, these experts provided feedback during the process and consulted on what factors we should leverage to best help prospective buyers compare providers.